(Yicai Global) Nov. 3 -- Xinjiang Daqo New Energy announced today that the comany and its wholly subsidiary, Inner Mongolia Daqo New Energy, had recently signed an agreement to sell a customer 57,600 tons of solar-grade polysilicon from October 2022 to December 2027, worth an estimated CNY14.696 billion (USD2.01 billion).

The actual price will be negotiated on a monthly basis and may fluctuate depending on market prices. The contract will not lead to a dependence on the customer, and thus the company's independence will be maintained, the announcement said.

Daqo New Energy has been signing various large contracts recently. On October 27, it announced that the company and its wholly owned subsidiary, Inner Mongolia Daqo New Energy, had signed a framework contract for the procurement of solar-grade cleaned silicon for an estimated CNY130.896 billion (USD17.93 billion).

On October 17, it signed a solar-grade primary polysilicon procurement contract worth CNY13.999 billion.

Today’s announcement came after the close, at which Daqo New Energy [SHA: 688303] was down 0.7 percent at CNY52.53 (USD52.53).

Daqo New Energy focuses on research and development, production and sales of high-purity polysilicon, and it currently has an annual production capacity of 105,000 tons of high-quality, low-energy consumption, low-cost polysilicon.

Editor: Tom Litting